Kinsale Capital Group (NYSE:KNSL) Stock Price Down 3.1% on Analyst Downgrade

Kinsale Capital Group, Inc. (NYSE:KNSL) was down 3.1% during mid-day trading on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $415.00 to $412.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Kinsale Capital Group traded as low as $434.00 and last traded at $440.00. Approximately 16,298 shares were traded during trading, a decline of 80% from the average daily volume of 82,935 shares. The stock had previously closed at $454.02.

KNSL has been the topic of a number of other reports. Wolfe Research upgraded Kinsale Capital Group from a “peer perform” rating to an “outperform” rating and set a $535.00 target price on the stock in a research report on Monday, October 28th. Royal Bank of Canada dropped their price objective on Kinsale Capital Group from $480.00 to $475.00 and set a “sector perform” rating on the stock in a report on Monday, October 28th. BMO Capital Markets upped their target price on Kinsale Capital Group from $445.00 to $461.00 and gave the stock a “market perform” rating in a research note on Thursday, November 21st. Morgan Stanley initiated coverage on shares of Kinsale Capital Group in a research note on Thursday, December 5th. They issued an “overweight” rating and a $593.00 price target on the stock. Finally, Truist Financial reduced their price objective on shares of Kinsale Capital Group from $530.00 to $500.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $471.11.

Insiders Place Their Bets

In other news, EVP Diane D. Schnupp sold 500 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $510.00, for a total transaction of $255,000.00. Following the completion of the transaction, the executive vice president now directly owns 6,994 shares of the company’s stock, valued at approximately $3,566,940. The trade was a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James Joseph Ritchie sold 2,295 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $499.79, for a total transaction of $1,147,018.05. Following the completion of the sale, the director now owns 7,348 shares in the company, valued at $3,672,456.92. The trade was a 23.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,235 shares of company stock worth $3,618,954 in the last ninety days. 5.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kinsale Capital Group

Several hedge funds have recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. lifted its position in shares of Kinsale Capital Group by 9.9% during the 2nd quarter. Benjamin Edwards Inc. now owns 267 shares of the financial services provider’s stock worth $103,000 after buying an additional 24 shares during the last quarter. Leibman Financial Services Inc. lifted its position in Kinsale Capital Group by 0.5% in the third quarter. Leibman Financial Services Inc. now owns 4,562 shares of the financial services provider’s stock valued at $2,124,000 after acquiring an additional 24 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in Kinsale Capital Group by 9.2% in the second quarter. Parkside Financial Bank & Trust now owns 331 shares of the financial services provider’s stock valued at $128,000 after acquiring an additional 28 shares in the last quarter. CWM LLC grew its holdings in shares of Kinsale Capital Group by 8.8% during the third quarter. CWM LLC now owns 406 shares of the financial services provider’s stock worth $189,000 after purchasing an additional 33 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its holdings in shares of Kinsale Capital Group by 5.1% during the third quarter. Fifth Third Wealth Advisors LLC now owns 763 shares of the financial services provider’s stock worth $355,000 after purchasing an additional 37 shares during the last quarter. 85.36% of the stock is currently owned by hedge funds and other institutional investors.

Kinsale Capital Group Price Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market cap of $9.97 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 2.16 and a beta of 1.13. The stock has a 50-day moving average price of $475.60 and a 200 day moving average price of $453.66.

Kinsale Capital Group (NYSE:KNSL) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $4.20 EPS for the quarter, topping the consensus estimate of $3.60 by $0.60. The company had revenue of $418.06 million for the quarter, compared to analyst estimates of $359.43 million. Kinsale Capital Group had a return on equity of 28.87% and a net margin of 26.80%. The firm’s revenue was up 33.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.31 earnings per share. As a group, equities research analysts forecast that Kinsale Capital Group, Inc. will post 15.61 earnings per share for the current fiscal year.

Kinsale Capital Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.60 annualized dividend and a yield of 0.14%. Kinsale Capital Group’s dividend payout ratio (DPR) is 3.42%.

Kinsale Capital Group Company Profile

Kinsale Capital Group, Inc, a specialty insurance company, engages in the provision of property and casualty insurance products in the United States. The company’s commercial lines offerings include commercial property, small business casualty and property, excess and general casualty, construction, allied health, life sciences, entertainment, energy, environmental, excess professional, health care, public entity, commercial auto, inland marine, aviation, ocean marine, product recall, and railroad, as well as product, professional, and management liability insurance.